Category: Cryptocurrency News

Shiba Inu (SHIB) has experienced a significant price drop, causing a considerable number of investors to find themselves in a precarious position.  With the recent downward trend in SHIB’s value, a staggering 1 million addresses now find themselves in the red zone, facing losses in their investment.  In the context of crypto trading, the term “red zone” often refers to a situation where a digital currency is experiencing a significant decline or negative price movement. It is commonly associated with bearish market conditions or a downtrend. Related Reading: Shiba Inu All Green Today – What’s The Energy Behind The Glow? This turn of events has sparked concern and curiosity among cryptocurrency enthusiasts and market observers alike, as they analyze the factors behind the price decline and its implications for the future of Shiba Inu and its large investor base. Break Even Indicator Highlights Shiba Inu Price Drop Impact In the midst of a volatile cryptocurrency market, the price of Shiba Inu (SHIB) on CoinGecko currently sits at a meager $0.00000852. Recent data indicates that SHIB experienced a modest 0.4% rally within the past 24 hours, but endured a gradual 2.0% decline over the span of seven days. Source: Coingecko According to IntoTheBlock the Break Even Price indicator, the price movement has left a significant impact on SHIB investors. Out of the total SHIB addresses analyzed, approximately 1 million addresses, accounting for 79.74%, find themselves in losses.  Source: IntoTheBlock On the other hand, 219,880 addresses (17.51%) have either realized gains or are currently in profit. Additionally, 34,600 addresses (2.76%) are at a break-even point, meaning they are neither in losses nor profits. Related Reading: Should BONE Holders Worry About Shibarium’s Delayed L2 Launch? The Break Even Price indicator is a metric that examines the realized gains and losses of SHIB holders based on on-chain data. It provides a comprehensive overview of the collective gains and losses experienced by those holding the Shiba Inu cryptocurrency.  This data sheds light on the overall financial state of SHIB investors, highlighting the prevailing challenges faced by a significant portion of the community amidst the recent price fluctuations. SHIB market cap currently at $4.8 billion. Chart: TradingView.com Selloff Pressure As Shibarium Launch Timeline Faces Uncertainty Meanwhile, recent data obtained from Etherscan reveals a noteworthy development within the Shiba Inu ecosystem. In a span of just a few hours, a substantial quantity of nearly 280 billion SHIB tokens, worth approximately $2,360,220, has been transferred to a Huobi wallet. This significant influx of tokens suggests a potential intention to sell them, putting additional downward pressure on the SHIB price. UNDERSTAND – if some testing goes wrong it may take longer – it’s being built – it’s not made from magic box😜 — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) May 24, 2023 The Shiba Inu team also faces another challenge regarding the launch of their much-anticipated Shibarium.  In a recent tweet, @LucieSHIB, the official content marketing expert representing the Shiba Inu team, provided an update on the anticipated launch of Shibarium, the project’s Layer 2 network.  Based on information shared by a SHIB developer known as Shibarium1, @LucieSHIB expressed her expectation that Shibarium could potentially be launched later this year, specifically in the third quarter. -Featured image from The Live Nagpur

Both national and global companies will take part in the upcoming pilot project of the Brazilian central bank digital currency.

submitted by /u/bc7915dawg [link] [comments]

submitted by /u/bc7915dawg [link] [comments]

Unbanked is yet another crypto firm to wind down this month, joining BottlePay, HotBit, Teressa, and most recently, TradeBlock.

MATIC price is recovering from the $0.82 support zone. Polygon might rise further but there is a major barrier forming near the $1.00 zone. MATIC price is attempting a recovery wave above the $0.86 resistance against the US dollar. The price is trading above $0.86 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.880 on the 4-hour chart of the MATIC/USD pair (data source from Kraken). The pair could continue to rise if it clears the $0.90 resistance zone. Polygon’s MATIC Price Attempts Recovery In the past few days, Polygon’s price saw a steady decline from well above $1.00. MATIC declined below the $0.900 support to move into a bearish zone. A low is formed near $0.8206 and the price is now attempting a recovery wave, similar to Bitcoin and Ethereum. The price was able to climb above $0.850. Besides, there was a break above a key bearish trend line with resistance near $0.880 on the 4-hour chart of the MATIC/USD pair. It broke the 23.6% Fib retracement level of the downward move from the $1.017 swing high to the $0.8206 low. MATIC price is now trading above $0.85 and the 100 simple moving average (4 hours). It is now facing resistance near the $0.90 level. If there is an upside break above the $0.90 resistance level, the price could continue to recover. The next major resistance is near $0.95 or the 61.8% Fib retracement level of the downward move from the $1.017 swing high to the $0.8206 low. Source: MATICUSD on TradingView.com A clear move above the $0.95 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.985 level or $1.00. Fresh Decline in MATIC? If MATIC’s price fails to rise above the $0.90 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.88 level. The main support is near the $0.865 level. A downside break below the $0.865 level could open the doors for a fresh decline toward $0.82. The next major support is near the $0.80 level. Technical Indicators 4 hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level. Major Support Levels – $0.88 and $0.865. Major Resistance Levels – $0.90, $0.95, and $1.00.

Cameron Winklevoss has predicted a “Cambrian explosion” in European innovation once regulations are rolled out.

Ethereum price started a recovery wave above the $1,780 level against the US Dollar. ETH must clear $1,820 to start a decent increase in the near term. Ethereum is currently consolidating below the $1,820 resistance zone. The price is trading below $1,820 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,818 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if it settles above the $1,820 resistance. Ethereum Price Recovery Faces Hurdle Ethereum’s price extended its decline below the $1,800 zone. ETH even declined below the $1,780 level before the bulls appeared near $1,760, similar to Bitcoin. A low was formed near $1,761 and the price is currently attempting a recovery wave. It is trading above the 23.6% Fib retracement level of the key decline from the $1,872 swing high to the $1,761 low. Ether is now trading below $1,820 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,818 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the key decline from the $1,872 swing high to the $1,761 low. Immediate resistance is near the $1,818 zone and the trend line. The first major resistance is near the $1,820 level. A close above the $1,820 resistance could send Ether toward $1,845. Source: ETHUSD on TradingView.com The next resistance sits near $1,875, above which Ethereum could rise toward $1,920. Any more gains above the $1,920 resistance zone could push the price toward the $2,000 resistance. Fresh Decline in ETH? If Ethereum fails to clear the $1,820 resistance, it could start another bearish wave. Initial support on the downside is near the $1,785 level. The next major support is near the $1,760 zone or the recent swing low. If there is a close below the $1,760 support, the price could start another major decline. In the stated case, the price might drop toward the $1,700 support zone. Any more losses may perhaps send the price toward the $1,660 level in the coming days. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is above the 50 level. Major Support Level – $1,785 Major Resistance Level – $1,820

Previously, the bill restricted influencer marketing to only licensed crypto firms, of which there are currently none in France.

Bitcoin price is struggling to recover above the $26,650 resistance. BTC might start another decline if it stays below the $26,650 resistance zone. Bitcoin is consolidating below the $26,600 and $26,650 resistance levels. The price is trading below $26,650 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $26,640 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover if there is a clear move above the $26,650 resistance. Bitcoin Price Faces Hurdle Bitcoin price remained in a bearish zone below the $27,500 resistance zone. BTC extended its decline and traded below the $26,000 level. A low was formed near $25,865 before the price started an upside correction. There was a move above the $26,200 level. The price is trading above the 23.6% Fib retracement level of the downward move from the $27,512 swing high to the $25,865 low. However, the price is facing many hurdles near $26,650. Bitcoin price is now consolidating below the $26,600 and $26,650 resistance levels. There is also a major bearish trend line forming with resistance near $26,640 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $26,550 level. The next major resistance is near the $26,650 level or the 50% Fib retracement level of the downward move from the $27,512 swing high to the $25,865 low. A close above the $26,650 resistance zone might send the price toward the $27,200 resistance zone. Source: BTCUSD on TradingView.com The next key resistance is near $27,550, above which the price might rise toward the $28,000 resistance. Any more gains might send the price toward the $28,200 resistance level. Fresh Decline in BTC? If Bitcoin’s price fails to clear the $26,650 resistance, it could start another decline. Immediate support on the downside is near the $26,200 level. The next major support is near the $26,000 zone, below which the price might revisit the last swing low at $25,865. Any more losses might take Bitcoin toward the $25,000 level in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 40 level. Major Support Levels – $26,200, followed by $26,000. Major Resistance Levels – $26,550, $26,650, and $27,200.